net_left Phương Thức Thanh Toán
Phương Thức Thanh Toán

SBF Outlines Leverage in Letter of Apology to FTX Staff

SBF asserts that investors were poised to commit billions of dollars prior to the bankruptcy filing. It has come to light that SBF and other executives have been on a...
SBF Outlines Leverage in Letter of Apology to FTX Staff SBF Outlines Leverage in Letter of Apology to FTX Staff

  • SBF asserts that investors were poised to commit billions of dollars prior to the bankruptcy filing.
  • It has come to light that SBF and other executives have been on a property shopping frenzy in The Bahamas.
  • FTX had $60 billion in collateral and $2 billion in liabilities in the spring, but a market downturn lowered the collateral’s value by 50%.
Sam Bankman-Fried (SBF), who had previously served as CEO of the bankrupt crypto exchange FTX, recently sent an open letter of apology to his former staff. After delivering his standard apology speech, he went on to suggest that the company still had a chance of being saved.

On November 23, Liz Hoffman, a journalist who covers the financial industry, shared a letter that was reportedly sent by SBF to employees. In that letter, he detailed the extremely precarious state that the group’s collateral and liabilities were in.

.tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweet{min-height:261px}.tweet-container{position:relative}blockquote.twitter-tweet{display:flex;max-width:550px;margin-top:10px;margin-bottom:10px}blockquote.twitter-tweet p{font:20px -apple-system,BlinkMacSystemFont,"Segoe UI",Roboto,Helvetica,Arial,sans-serif}.tweet-container div:first-child{ position:absolute!Important }.tweet-container div:last-child{ position:relative!Important }

SBF Details FTX’s Leverage

According to Bankman-Fried, during the spring of this year, FTX had approximately $60 billion in collateral and $2 billion in liabilities. However, a market crash caused the value of the collateral to drop by 50%.

The “drying up” of credit in the cryptocurrency sector drove the value of FTX’s collateral down to $25 billion, which increased its assessed liability to $8 billion. After another drop in November, “the value of collateral fell by another about 50% in a very short period of time,” from an estimated $17 billion.

Bankman-Fried said that another $8 billion in collateral was lost because of the bank run in November, which was caused by what he called “attacks.”

However, SBF shared details that would have altered the outcome to FTX’s advantage. The ex-crypto billionaire has speculated that FTX may still have some worth. According to him, investors were ready to put in billions of dollars before the bankruptcy was filed. He wrote:

"We likely could have raised significant funding; potential interest in billions of dollars in funding came in roughly eight minutes after I signed the Chapter 11 docs." He said that the sum of these funds, along with the remaining collateral and interest from other partners, could have restored “large value to customers and saved the business.”

  • SBF didn’t respond to claims that FTX used client and corporate funds to support Alameda Research, revelations that Alameda was exempt from FTX’s standard liquidation process, or claims that Alameda had loaned money to FTX officials, including himself, in his internal letter distributed to company employees.

Why You Should Care

When the FTX cryptocurrency exchange went out of business, it sent shockwaves through the whole industry. Even cryptocurrency investors who didn’t have any money in the exchange itself were affected.

More on SBF and the defunct exchange FTX:

FTX Latest: SBF’s Fallen Crypto Empire Holds $1.24B in Cash Reserves

SBF Blasts Regulators, Says He Regrets Filing For Bankruptcy

See original on DailyCoin

Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
06-12-2022 03:39:25 (UTC+7)

EUR/USD

1.0485

-0.0053 (-0.50%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (4)

EUR/USD

1.0485

-0.0053 (-0.50%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (4)

Sell (4)

GBP/USD

1.2172

-0.0115 (-0.94%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

USD/JPY

136.68

+2.38 (+1.78%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (5)

AUD/USD

0.6692

-0.0097 (-1.43%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (3)

USD/CAD

1.3599

+0.0132 (+0.98%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (7)

EUR/JPY

143.32

+1.78 (+1.26%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

EUR/CHF

0.9890

+0.0019 (+0.19%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (2)

Gold Futures

1,779.90

-29.70 (-1.64%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (5)

Silver Futures

22.398

-0.852 (-3.66%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

Copper Futures

3.7820

-0.0685 (-1.78%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Crude Oil WTI Futures

77.35

-2.63 (-3.29%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (6)

Sell (1)

Brent Oil Futures

83.00

-2.57 (-3.00%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (1)

Natural Gas Futures

5.610

-0.671 (-10.68%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (4)

US Coffee C Futures

163.42

+0.82 (+0.50%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

Euro Stoxx 50

3,956.53

-21.37 (-0.54%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

S&P 500

3,994.70

-77.00 (-1.89%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (11)

Sell (0)

DAX

14,447.61

-81.78 (-0.56%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

FTSE 100

7,567.54

+11.31 (+0.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Hang Seng

19,518.29

+842.94 (+4.51%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (2)

US Small Cap 2000

1,832.50

-57.48 (-3.04%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (1)

IBEX 35

8,370.10

-7.80 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

BASF SE NA O.N.

47.970

-0.760 (-1.56%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (9)

Bayer AG NA

53.09

-1.75 (-3.19%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

Allianz SE VNA O.N.

203.00

+0.35 (+0.17%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (3)

Adidas AG

122.06

-2.20 (-1.77%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (4)

Deutsche Lufthansa AG

7.766

+0.028 (+0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

Siemens AG Class N

135.44

+0.74 (+0.55%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

Deutsche Bank AG

10.150

+0.126 (+1.26%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (3)

 EUR/USD1.0485Neutral
 GBP/USD1.2172Neutral
 USD/JPY136.68↑ Sell
 AUD/USD0.6692Buy
 USD/CAD1.3599Sell
 EUR/JPY143.32Neutral
 EUR/CHF0.9890Neutral
 Gold1,779.90Sell
 Silver22.398↑ Buy
 Copper3.7820↑ Buy
 Crude Oil WTI77.35↑ Sell
 Brent Oil83.00Neutral
 Natural Gas5.610Neutral
 US Coffee C163.42↑ Sell
 Euro Stoxx 503,956.53↑ Sell
 S&P 5003,994.70↑ Buy
 DAX14,447.61↑ Sell
 FTSE 1007,567.54↑ Sell
 Hang Seng19,518.29Buy
 Small Cap 20001,832.50↑ Buy
 IBEX 358,370.10↑ Sell
 BASF47.970Sell
 Bayer53.09↑ Buy
 Allianz203.00Buy
 Adidas122.06↑ Sell
 Lufthansa7.766↑ Buy
 Siemens AG135.44↑ Buy
 Deutsche Bank AG10.150Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,610/ 6,680
(0/ 0) # 1,473
SJC HCM6,625/ 6,705
(0/ 0) # 1,500
SJC Hanoi6,625/ 6,707
(0/ 0) # 1,502
SJC Danang6,625/ 6,707
(0/ 0) # 1,502
SJC Nhatrang6,625/ 6,707
(0/ 0) # 1,502
SJC Cantho6,625/ 6,707
(0/ 0) # 1,502
Cập nhật 06-12-2022 03:39:28
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,767.13-31.72-1.76%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V23.83024.300
RON 95-III22.70023.150
E5 RON 92-II21.67022.100
DO 0.05S23.21023.670
DO 0,001S-V25.19025.690
Dầu hỏa 2-K23.56024.030
ↂ Giá dầu thô thế giới
WTI$77.46+3.694.54%
Brent$83.06+3.694.26%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.760,0024.070,00
EUR24.574,8925.950,11
GBP28.594,5429.812,86
JPY172,03182,11
KRW15,9819,47
Cập nhật lúc 18:53:14 05/12/2022
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán